Currency in Japan - A Full Guide 2024
Planning a trip to Japan? Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel.
This guide covers all you’ll need to know about the official currency in Japan, where to get it and how to keep your costs down during your trip.
What is the currency in Japan?
The official currency in Japan is the Japanese Yen, which is issued and overseen by the Bank of Japan. If you’re buying your travel money online you may also see the official code being shown - JPY. In stores and restaurants, Japanese Yen prices are likely to use the currency symbol ¥.
Once you’re in Japan you’ll see costs of items shown in JPY and you’ll need to start paying for things in local coins and notes which are often found in the following denominations:
banknotes - 1000, 2000, 5000, 10000 JPY and coins - 1, 5, 10, 50, 100, 500 JPY.
Can you officially pay in NZD when you are in Japan?
You’re unlikely to be able to officially transact in NZD in Japan, which is why it’s time to start getting used to JPY and learning more about the currency exchange rates so you’ll know what you’re spending on your trip.
This guide will walk through all you need to know, including US dollar/Japanese Yen rates and where best to get your travel money from.
| Japanese Yen | |
|---|---|
| Currency name | Japanese Yen |
| ISO code | JPY |
| Symbol | ¥ |
| Subunit | Sen |
| Central Bank | Bank of Japan |
| Best travel cards to take to Japan | Wise |
JPY coins and banknotes
Here’s a full rundown of the JPY coins and banknotes you’ll need to be familiar with when you’re in Japan.
| JPY banknotes | JPY coins |
|---|---|
| banknotes - 1000, 2000, 5000, 10000 JPY | coins - 1, 5, 10, 50, 100, 500 JPY |
History of Japanese Yen currency
The Japanese Yen (JPY) was officially adopted by the Meiji government with the New Currency Act of 1871, aiming to stabilize the monetary system and facilitate trade with foreign countries. The yen replaced the complex feudal currency system based on the mon. The term 'yen' means 'round object' in Japanese, reflecting the shape of the coinage. Japan's economic growth saw the yen becoming one of the most traded currencies in the world. Despite experiencing periods of inflation and deflation, the yen is considered a safe-haven currency and is known for its stability.
Is NZD accepted in Japan?
As we’ve seen, the official currency in Japan is JPY. If you carry NZD with you on your trip, you’ll probably need to exchange it before you can spend.
Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your NZD. Planning smart and convenient ways to spend in JPY when you’re away is likely to mean you save on costs in the end.
Usually, having a few different ways to pay and get cash is the best option for travelers and tourists. That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in JPY should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies.
Use a travel card on your next trip to Japan
Using a travel debit card in Japan is usually cheap, safe and convenient. A few providers in NZD offer multi-currency cards which come with a linked payment account that lets you convert, hold and spend in JPY. That allows you to add a balance in NZD and switch over to JPY to lock in the exchange rate and set your travel budget.
Once you have JPY in your account there are no extra fees to make payments, and you’ll not have foreign transaction charges to worry about, either.
Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in Japan.
Wise travel card
Order a Wise travel card online or in the Wise app, to hold and exchange 40+ currencies and manage your money from your phone. You’ll be able to spend conveniently in JPY - and all currency exchange uses the mid-market rate with no markup.
Card holders get some free ATM withdrawals available every month, and there’s no annual or monthly fees to pay, and no minimum balance requirement.
| Wise pros | Wise cons |
|---|---|
✅ Currency exchange uses the mid-market rate ✅ No foreign transaction fees apply ✅ Free to hold and spend 40+ currencies ✅ Receive payments to your Wise account in a selection of global currencies ✅ No minimum balance or ongoing fees | ❌ Card order fee applies ❌ ATM fees apply once you’ve exhausted your free monthly withdrawals |
What is the currency exchange rate for NZ$ 1 NZD/JPY?
It’s helpful to get to know the live NZD/JPY rate so you can easily calculate how much things are costing you while you’re on your trip abroad. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the NZD/JPY rate you get when exchanging travel cash includes a markup - an extra fee.
Find the NZD/JPY mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily. Right now, the mid-market rate for 1 NZD to JPY is 0.54219.
Should I exchange NZD to JPY before traveling to Japan?
Because Japan sees many tourists from New Zealand every year you might find you’re better off if you exchange your currency when you get to Japan rather than worrying about getting your cash sorted out before you leave.
Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in New Zealand and in Japan, steer clear of exchanging currency at the airport. A captive market means that NZD/JPY rates are often worse in the airport than in city centers.
Tips for exchanging money in Japan
There’s a good network of ATMs across Japan, and card payments are also widely accepted. Always pay in NZD to avoid sneaky extra dynamic currency conversion costs and to make sure your money goes further.
Avoid using exchange providers at airports or hotels in Japan as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby
Today’s mid market exchange rate for NZD/JPY is 0.54219 - look for this or as close as possible to it when you exchange your travel money
Use a travel debit card like the Wise card while you’re in Japan for fast and cheap conversion between currencies and easy ways to manage your money from your phone
Best place to exchange currency in Japan
You can get your JPY in Japan in a couple of ways.
You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online.
Or if you prefer an offline solution you can carry some cash in NZD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city center are likely to be cheaper overall.
How to pay in Japan?
You’ll need to have JPY to spend in Japan. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in Japan.
1. Debit or credit card
Card payments can be helpful in shops, restaurants and hotels but there will be places where cash is also important. Order a travel card from a provider like Wise for cheap and fast transactions, including card payments and cash withdrawals as and when you need travel money in JPY.
2. JPY cash
Cash is widely used in Japan, so it’s worth having some with you at all times. You may want to exchange money to JPY before you leave, but it’s also usually convenient to make ATM withdrawals locally once you arrive in Japan.
You’ll usually find you can use a card to make payments in Japan, but carrying some cash in JPY is also reassuring. It’s often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason.
It’s a smart idea to have both a card and some cash in JPY when you’re in Japan. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise or Revolut alongside your cash for flexibility.
Paying for the trip in NZD
If you’re paying for things in Japan with a NZD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate.
Travel debit cards don’t always work this way. When you make purchases in Japan using the Wise card you can either choose to convert your account balance to JPY in advance in the Wise app, or just leave your balance in NZD and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges.
Conclusion - Currency in Japan
You won’t be able to pay in NZD when you visit Japan - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on JPY in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging NZD to JPY, and make your money go further while you’re away.
The official currency in Japan is JPY. You can’t usually pay in NZD in Japan, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to JPY and convenient spending and withdrawals - and remember that knowing the NZD to JPY mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange.
FAQ - Currency in Japan
What is the currency in Japan called?
The official currency in Japan is the Japanese Yen. You may also see the code JPY and the currency symbol ¥.
What's the currency in Tokyo?
The official currency in Tokyo is the Japanese Yen. You’ll only be able to spend in JPY while you’re there.
What is the old Japan currency?
Today the currency in Japan is the Japanese Yen. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees.
What is the best currency to take to Japan?
You’ll only be able to spend in JPY while you’re in Japan. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.